This Subprime mortgage index blasted a point yesterday and 4 points today!!! Adam Smith was wrong about the "invisible hand". Everyone can see it is the government. Technically this pop fits nicely with the last push of a trend. In this case it looks like the ABX index is in wave e of a triangle or wave 5 of and ending diagonal. Either way a top is in the works over the next week or two, followed by a strong decline the rest of the year.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.